HVDC Transmission System uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems. For long-distance transmission, HVDC systems may be less expensive and suffer lower electrical losses. For underwater power cables, HVDC avoids the heavy currents required to charge and discharge the cable capacitance each cycle. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may still be justified, due to other benefits of direct current links.
The increasing demand for cost-effective solutions for long distance power transmission and integration of VSC technology across grids to enable system security are the major factors that drives the HVDC transmission system market.
In Asia Pacific (APAC), China and India are the major contributors to the growth of the HVDC transmission system market due to the growing demand for power in these countries. Some other factors affecting the growth of the market in this region include aging power infrastructure, increase in power consumption pattern, economic uncertainties, and low carbon emission initiatives. High power quality along with reliable and stable power transmission are some of the key requirements in the power industry. This factor is driving the growth of the HVDC transmission market in the APAC region.
In China and India, high-power rating projects are more popular as it can supply more power for the huge population. While in Europe, most projects are the low-power rating projects and used for the new energy transmission like the wind energy.
Major players operating in the HVDC transmission market are ABB,Siemens,XD Group, NR Electric,GE Grid Solution, NKT, TBEA, etc. These Chinese players are rising faster through technology joint with the foreign players like ABB and Siemens. And the laters are also expanding their market through this method.
According to this study, over the next five years the HVDC Transmission System market will register a 9.9% CAGR in terms of revenue, the global market size will reach US$ 13500 million by 2024, from US$ 7650 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in HVDC Transmission System business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of HVDC Transmission System market by product type, application, key manufacturers and key regions and countries.
This study considers the HVDC Transmission System value and volume generated from the sales of the following segments:
Global HVDC Transmission System Market report features the major aspect of the market in terms of historic data, current market situations, market demand along with detailed analysis of the key players involved in the market.HVDC Transmission System Industry report also provides essential attributes associated with HVDC Transmission System market and act an essential tool to companies active across the value chain and to the newcomer by enabling them to capitalize the opportunities and develop business strategies.
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Global HVDC Transmission System Market focuses on the, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.HVDC Transmission System business report categorizes the market based on manufacturers, regions, type and application. From a global perspective, this report represents HVDC Transmission System market in-depth outlook by analyzing historical statistics and future prospect.
TOP MOST PLAYERS:
GE Grid Solution
Market Segment by Type, covers:
High-power Rating Projects
Low power Rating Projects
Market Segment by Applications, can be divided into:
The prospective of this HVDC Transmission System industry study delivers the key industry dynamic with respect to driving & limiting factors with their current and expected impact on market growth. Moreover, HVDC Transmission System present market share and future prospects of the segment in terms of has also been explored in this report.
Global HVDC Transmission System market report showcases qualitative and quantitative estimation by industry analysts, first-hand data, and assistance from industry experts along with each industry manufacturers by the market valuation. HVDC Transmission System report also gives extensive analysis of market share, latest industry trends and forecast data analysis with respect to sales revenue, market growth, and demand and supply scenario.
Conclusively, the HVDC Transmission System Market report provides major statistics on the state of the industry also it is considered as an essential source of guidance and direction for businesses and individuals involved in the market.